KLAYswap

Profile narrative

KLAYswap is a decentralized finance platform that provides token exchange and liquidity services to users. It operates as a DeFi protocol enabling peer‑to‑peer swaps of digital assets without intermediaries. The platform’s core offering centers on facilitating trades through automated market maker mechanisms. It serves a global user base accessible via web interfaces. Its headquarters are located in South Korea. The service distinguishes itself by focusing on user‑friendly front‑end interactions integrated with third‑party SDKs.

On February 3 2022 KLAYswap experienced a security incident when attackers compromised the Kakao SDK used in its front‑end, injecting malicious code that redirected transaction approvals to attacker‑controlled addresses. The breach affected roughly 325 wallets and resulted in unauthorized transfers valued at about 22 billion KRW. In response the platform suspended its services, removed the compromised SDK, and released a tool for users to revoke the malicious approvals. Users were advised to clear browser caches and move assets to new wallets. The incident was attributed to external infrastructure manipulation rather than flaws in the platform’s smart contracts or core codebase. These events highlight KLAYswap’s reliance on third‑party front‑end components and its procedural approach to incident containment and user remediation.

Incidents

1 incident linked to this organisation.